COMMENTARY: Euro-yen slipping lower after bulls failed to test the Apr 11 highat 131.12 and instead left a high at 130.70 on Apr 22, forms part of initialresistance, just above the 1.00% MA envelope top at 130.32. Bears turn to support,price action is already slipping below the 23.6% of 119.11-131.12 at 128.29and initial support around 127.82/87/128.06, the Tenkan line, Apr 23 low and Apr19 low. Break below here may target the 21-DMA at 126.98 and 38.2% at 126.53.

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